Please email any property details to me so that it can be part of this ongoing research data on the property market. I need your street address, date of purchase and price, date of sale and price. Email direct to peter@petercampbellrealty.com - Thanks.

Mr & Mrs W came to the Creek and in Lena Court purchased house and land for $10,750. With a loan of $8,000 costing $38 per month, the child endowment “family payment” was $31.60, leaving a weekly commitment of $1.48 to be found from the $100 per week single income.

That $38 per month was equal to eight per cent of gross single income.

In 2007, to buy that same property will cost $495 per week or 46% of gross single income (assuming a 10% deposit).

AND TODAY’S SOLUTION
In Albany Creek/Eatons Hill both parties work, to meet the average mortgage payment of around $455 per week or rent just over $325 per week.

My research shows that many first homeowners are excluded from the local market because of no deposit (no savings),the high cost of living of the “Y” generation and the ever increasing burden of direct and indirect taxes.

The family budget on $1085 gross combined income might look like this, per week

Only $420 is left for grocery and accommodation and without any other debt, a mortgage of $300,000 at $452 per week is obtainable. The first home owner needs a family assisted boost to buy in. The average Queensland mortgage is $282,587 up from $174,689 in 2001.

So – look ahead. Because the local area is desirable, rentals will be in greater demand (by late-2007 no rental will be under $300 pw). Maybe buy a rental and put the kids in it or use your equity to help out. Almost 32% of all property transactions are for rental purposes.

The real change between 1968 and the 21st Century is the working wife (partner) and attitudinal change. Lay-by, savings, etc. have been replaced by credit cards and households full of goodies. “Try before you buy”. As a career option, many women choose to work, have a family later and co-contribute to the establishment of the “nest” like never before. It is this extra income that makes the ends meet and overcomes the higher taxes, that are using graeter than inflation.

Try me – Peter 0418 774 663
Or email peter@petercampbellrealty.com

37 years of local real estate know-how, yours for the asking, at the end of your phone.

By the year 2015, no property in the Albany Creek district will sell under $450,000.

By the year 2015, no rental will be under $385 per week.

TO RENT TO BUY TO SELL
Peter Campbell - 0418 774 663